MoU worth Rs 2,000 cr signed with Uttar Pradesh govt to develop MMLPs

Welspun One Logistics Parks (WOLP), has signed a pact with the Uttar Pradesh government to set up warehousing facilities and logistics parks in the state at an investment of ₹2,000 crore. The company said it has signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh (UP) to broaden its presence in the warehousing sector in North India. The MoU was signed at the UP Global Investors Summit 2023 which was held on 10-12 February 2023 in Lucknow. Uttar Pradesh is aiming to be a $1 trillion economy, and the logistics and warehousing sector has been identified a priority sector to help achieve this target. “Welspun One seeks to effectively utilise government and private land parcels in Lucknow for the construction of Grade A warehouse facilities and logistics parks. WOLP would invest ₹2,000 crore in the state of Uttar Pradesh with the support of this association,” the company said in a statement.